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Corporate news transmitted by euro adhoc. The issuer/originator is solely
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Company Information/FMA Measure
The Austrian Financial Market Authority (FMA) in its function as the resolution
authority under the Austrian Bank Recovery and Resolution Act (BaSAG)
transposing the EU Bank Recovery and Resolution Directive (BRRD) into national
law hereby notifies the application of the bail-in tool in respect of HETA ASSET
RESOLUTION AG by emergency administrative decision of 10 April 2016.
* The Common Equity Tier 1 positions, the principle amount of Tier 2 capital and
all other subordinated debt as well as the interest accrued thereon up to 28
February 2015 has been written down to zero.
* The principal amount or outstanding amount of the remaining eligible
liabilities, including for those liabilities for which the facts had already
been substantiated as of 01 March 2015, but for which the eligibility or
amount remains unclear, as well as the interest accrued thereon up to 28
February 2015 has been written down to a quota of 46.02 percent.
In parallel, additional resolution powers have been applied.
* The maturity of all debt instruments issued by HETA ASSET RESOLUTION AG, other
eligible liabilities and outstanding amounts, which already existed before 01
March 2015, has been altered to the date when the decision to liquidate HETA
ASSET RESOLUTION AG pursuant to Art. 84 para. 9 BaSAG will be taken, or to 31
December 2023, whichever is earlier.
* The interest rate for eligible liabilities and relevant HETA-issued capital
instruments was set at zero percent with effect from 01 March 2015.
* The rights and obligations attached to the existing shares and other
instruments of ownership in HETA ASSET RESOLUTION AG have been cancelled
except for the rights of interest that have been conferred upon the FMA. The
FMA has exercised the power to take control of HETA ASSET RESOLUTION AG and
exercises the rights of influence conferred upon its shareholders.
The edict including a list of the eligible liabilities concerned is accessible
at
https://www.fma.gv.at/typo3conf/ext/dam_download/secure.php?u=0&file=13884&t=1460383292&hash=0f28cb47f2ee865712aa4c52bdbfa337
The emergency administrative decision of 1 March 2015, which was subject to the
legal challenge procedure according to BaSAG, has been upheld by the decision of
10 April 2016:
https://www.fma.gv.at/typo3conf/ext/dam_download/secure.php?u=0&file=16294&t=1460383292&hash=401236408eca30b33c310d13355a8101
For questions regarding the individual issuances please be referred to the
issuer.
Further inquiry note:
Elisabeth Pechmann, BA
HETA ASSET RESOLUTION AG
Corporate Communications / Investor Relations
+43 (0) 50209 4623
Holding@heta-asset-resolution.com
end of announcement euro adhoc
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company: FMA Österreichische Finanzmarktaufsicht
Otto-Wagner-Platz 5
A-1090 Wien
phone: +43(1)249 59-0
FAX: +43(1)249 59-5499
mail: fma@fma.gv.at
WWW: www.fma.gv.at
sector: Economy, Business & Finance
ISIN: -
indexes:
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language: English